PRE-MARKET AUSTRALIAN AND SOUTH KOREAN STOCK NEWS: Earnings from Woodside
Australia
ANZ (ANZ AT) – Co. announced it has reached an agreement to acquire Worldline’s (WLN FP) 51% stake of ANZ Worldline JV. (ANZ)
BHP (BHP AT), Rio Tinto (RIO AT) – Train driver’s trade union says the Cos cannot handle workers demanding better conditions under Labor’s industrial relations changes. (The Australian)
Macquarie Group (MQG AT) - Co. agreed to sell Louisiana-based utility Cleco Power to private equity buyers including Stonepeak Partners for up to USD 8.3bln as it reshapes its global portfolio. (AFR)
oOh!Media Ltd (OML AT) - Co. received a non-binding indicative takeover offer of AUD 747mln from Pacific Equity Partners at a substantial premium. (AFR)
Woolworths Group (WOW AT) - Co. is accused in court documents of charging higher prices for period products while advertising them as discounted as a trial concludes. (The Australian)
Woodside Energy Group Ltd (WDS AT) - Co. Q1 (USD) operating revenue rose 7% Q/Q to 3.26bln, sales volumes fell 1% Q/Q to 51.7mln BOE, production fell 8% Q/Q to 45.2mln BOE, average realised price rose 11% Q/Q to 63/BOE, maintains annual guidance. (Dow Jones Newsplus)
South Korea
Amorepacific Corp. (090430 KS) - Co. Q1 (KRW) net fell 5% Y/Y to 113.0bln, operating profit rose 7.6% Y/Y to 126.7bln, rev. rose 6.4% Y/Y to 1.13tln. (Yonhap)
Amorepacific Group (002790 KS) - Co. Q1 (KRW) net fell 5.4% Y/Y to 132.5bln, operating profit rose 6.9% Y/Y to 137.8bln, rev. rose 5.0% Y/Y to 1.22tln. (Yonhap)
Doosan Bobcat Inc. (241560 KS) - Co. Q1 (KRW) net rose 15.9% Y/Y to 131.4bln, operating profit rose 3.5% Y/Y to 207.0bln, rev. rose 7.1% Y/Y to 2.24tln. (Yonhap)
Doosan Robotics Inc. (454910 KS) - Co. Q1 (KRW) net was -9.2bln, operating profit was -12.1bln, rev. rose 189.7% Y/Y to 15.3bln. (Yonhap)
Hanwha Solutions Corp. (009830 KS) - Co. Q1 (KRW) net was -38.2bln, operating profit rose 205.5% Y/Y to 92.6bln, rev. rose 25.4% Y/Y to 3.88tln. (Yonhap)
HD Hyundai Electric Co., Ltd. (267260 KS) - Co. Q1 (KRW) net rose 35.4% Y/Y to 207.7bln, operating profit rose 18.4% Y/Y to 258.3bln, rev. rose 2.1% Y/Y to 1.03tln. (Yonhap)
Hyundai Engineering & Construction Co., Ltd. (000720 KS) - Co. Q1 (KRW) net rose 24% Y/Y to 206.8bln. (Yonhap)
Kumho Tire Co., Inc. (073240 KS) - Co. Q1 (KRW) net rose 0.4% Y/Y to 103.4bln, operating profit rose 0.3% Y/Y to 147.0bln, rev. fell 3.2% Y/Y to 1.16tln. (Yonhap)
Lotte Fine Chemical Co., Ltd. (004000 KS) - Co. Q1 (KRW) net rose 57.4% Y/Y to 44.7bln, operating profit rose 74.0% Y/Y to 32.7bln, rev. rose 14.6% Y/Y to 510.7bln. (Yonhap)
The earnings updates coming from both Woodside Energy Group and notable South Korean companies present a mixed picture. Woodside's revenue growth of 7% with stable annual guidance indicates resilience in the energy sector, although production and sales volume declines warrant caution. Conversely, South Korean firms like Amorepacific show strong revenue growth despite net income declines, which might suggest margin pressures or reinvestment strategies impacting profitability for players in that market.